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PPP Loan Data — AG -Power, Inc, Mckinney, TX

SBA PPP loan data, payroll data, and salaries for AG -Power, Inc
TX

AG -Power, Inc

Entity: Corporation

Industry: Motorcycle, ATV, and All Other Motor Vehicle Dealers

Location: Mckinney, TX

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AG -Power, Inc is a corporation located at 1512 Bray Central Dr, Suite 100 in Mckinney, Texas that received a Coronavirus-related PPP loan from the SBA of $2,837,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.84M

Jobs Retained:

245

Loan Approved:

2020-04-11

Lender:

PROSPERITY BANK

AG -Power, Inc in Mckinney, TX received a Paycheck Protection Loan of $2.84M through PROSPERITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, AG -Power, Inc's total 2019 payroll expenses were approximately $13.62M in order to qualify for the PPP loan amount received.

Based on their reported 245 jobs retained, this equals an estimated average yearly compensation of $55,586 per employee1.

Because the loan received by AG -Power, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - AG -Power, Inc in Mckinney, TX

AG -Power, Inc
1512 Bray Central Dr, Suite 100
Mckinney, TX 75069

Business Industry

Motorcycle, ATV, and All Other Motor Vehicle Dealers (NAICS code 441228)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-03

Industry PPP Comparison Statistics

Nationwide, 5,280 businesses in the "Motorcycle, ATV, and All Other Motor Vehicle Dealers" industry received a total of $853,860,010.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 94% lower than AG -Power, Inc's reported 245 employees, and received an average PPP loan of $161,716, 94% lower than this company's loan of $2.84M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ag-power-inc-mckinney-tx